Golden Spoon Investment Portfolio - Chapter 498

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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I’ll let you shoot as much as you want, so don’t worry about that.

The Mercedes sedan carrying Seok-won arrived at the Walkerhill Hotel at 4:40 PM.
Though he’d arrived slightly earlier than the scheduled time, his older brother Park Jin-hyung, president of Daheung Textile, was already seated at the table.
As I passed through the sliding door held open by the Manager and entered the private room, Park Jin-hyung remained seated, turning his head only slightly to speak.

“You’re here.”
“I thought I’d arrived first, but you were already here.”
“I just got here myself.”

Han Ji-sung, taking the cashmere coat along with his jacket from the Manager, carefully arranged it on the coat rack nearby and bowed slightly at the waist.

“I’ll wait outside.”

When Seok-won gave a small nod, Han Ji-sung bowed alternately to both men before stepping out.
As Seok-won took the empty seat across from his brother, the Manager approached respectfully and poured warm tea into the cup, asking politely.

“Shall I bring the food right away?”

Park Jin-hyung, dressed in a white dress shirt and wine-colored silk necktie, gave a slight nod.

“Yes, please do.”
“Please wait a moment.”

The Manager quietly closed the sliding door and left the private room, leaving only the two brothers inside.
Seok-won stared directly at his brother across from him and asked.

“What sudden whim made you suggest dinner together?”
“Is it so strange for a brother to share a meal with his younger brother?”
“No, it’s not that—it’s just unusual since you don’t normally do this.”

Seok-won answered with a shrug of his shoulders.
Just then, the sliding door opened with a sound, and two neatly dressed Female Servers placed warm appetizers and sake on the table before departing.

“Let’s eat first.”

Park Jin-hyung raised his glass first and spoke.
Seok-won nodded and picked up the glass before him, clinking it gently against the one his brother offered, then drained it in one smooth motion.

“Ahhh.”

The warm liquor flowed down his throat, spreading a pleasant heat through his chest.

“Why are you drinking it like soju?”
“That’s the proper way to drink it.”
“You’re something else.”

Seok-won picked up his chopsticks and placed some braised tofu and shrimp—the appetizers—into his mouth.
Following that came thinly sliced tuna and clam broth, then delicate flounder with prized deer mushrooms in a miso-based sauce, each dish bearing the chef’s meticulous care as they arrived one after another on the table.
After filling his stomach with sushi served alongside sea bream, Seok-won picked up the ceramic sake bottle and refilled his brother’s empty glass, then asked.

“Jun-woo’s grown quite a bit, hasn’t he?”

At the mention of his son, a natural smile crossed Park Jin-hyung’s face.

“He’s learning to walk now and gets around on his own.”
“Really? It feels like just yesterday he was swaddled and couldn’t even open his eyes properly. He’s growing so fast.”
“These days, watching that kid grow is what keeps me going.”

Park Jin-hyung tilted his glass and took a sip, then set it back on the table, his expression becoming quite serious as he looked at his brother.

“I wanted to see you today because there’s something I need to discuss.”

Seok-won met his gaze as if he’d expected as much.

“I figured as much when you suddenly called and suggested dinner. So what is it?”

Park Jin-hyung then broached the subject in a somewhat subdued tone.

“You’ve probably heard of HomeMarket.”
“It’s the large discount store that Saseong Group created and operates.”
“That’s right.”

Seok-won tilted his head curiously and asked.

“It’s an impressive place with a large clock tower modeled after Big Ben in London, Britain. But why are you suddenly bringing up HomeMarket?”
“I’m considering acquiring HomeMarket.”

At this unexpected statement, Seok-won’s eyes widened as he stared at me.

“Are you serious?”

Park Jin-hyung nodded heavily under his gaze.

“Yes. I’m not sure if you’re aware, but due to the government’s strong demands for corporate restructuring, the Saseong Group has had no choice but to divest from several non-core subsidiaries. HomeMarket is included in that, and it’s currently on the market.”

Seok-won recalled the information report Lee Chul-gyun had sent a few days ago, which contained details about HomeMarket, and continued the conversation.

“Aren’t you already in negotiations to sell equity stakes to Tesco, the British retailer?”
“We’re in negotiations, but we haven’t signed the contract yet.”
“That’s true.”

Park Jin-hyung leaned forward, his eyes gleaming with seriousness.

“The large-scale discount store business is showing steep growth—this year’s market size is 6.8 trillion won, and it’s expected to expand significantly to 8 trillion won next year, nearly an 18 percent increase. Not only foreign chains like Walmart, Carrefour, and Costco, but also Lotte and Utopia are aggressively entering the market, sensing the opportunity. I believe we cannot afford to fall behind.”
“Large-scale discount stores are certainly a promising business with strong growth potential.”

Seok-won agreed with a positive attitude.
Before my regression, the sector had become a declining industry, squeezed by rapidly growing online e-commerce companies, leading to losses and store closures. But at this moment in time, it remained a high-growth industry, rapidly eroding the traditional retail market and significantly expanding its market share year after year.

“That’s why, now that the market is just beginning to flourish and there’s no clear leader yet, we need to enter the large-scale discount store business before it’s too late.”

Park Jin-hyung spoke with passion blazing across his face.

“The timing is perfect—with the Saseong Group putting HomeMarket on the market right now, this is our golden opportunity to join the competition.”

Seok-won then continued, crossing his arms.

“With only two stores in Daegu and Busan, it’s certainly better than starting from scratch with nothing at all.”
“Exactly my point.”

However, unlike Park Jin-hyung, whose enthusiasm was running high, Seok-won maintained a cautious demeanor.

“We had no choice but to put HomeMarket on the market, but everyone knows the discount retail business is promising, and with a formidable competitor like Tesco in the mix, wouldn’t Saseong Group try to sell it for as much as possible?”
“Of course they would. But I believe that acquiring HomeMarket, even if it requires pushing ourselves, is more advantageous when thinking about the future.”
“Even if we manage to acquire it, we’ll need substantial capital to aggressively expand our store locations while competing with other companies.”

Park Jin-hyung fell silent for a moment before responding in a subdued voice.

“If we acquire HomeMarket, I’m planning to sell Daheung Textile to secure the investment funds.”
“…!”

Seok-won stared at him in shock, seeking confirmation.

“You’re saying you’d sell the textile company now?”
“Yes.”

Unable to hide his bewilderment, Seok-won pressed further.

“Has Father approved this?”
“No. I haven’t told him yet.”

Park Jin-hyung shook his head in response.
His expression grew even more skeptical as he continued.

“He’ll fly into a rage the moment he hears about it.”

Daheung Textile was the very foundation upon which the Daeheung Group had been built, making it especially precious to Chairman Park Tae-hong.
When he designated his eldest son as the group’s successor, he had placed him as president of Daheung Textile rather than Midopa Department Store precisely because of this significance.
So if the eldest son—who would eventually inherit the chairman’s seat—proposed selling the group’s very foundation, his reaction was as predictable as fire.

‘With his blood pressure, I wonder if he’ll grab the back of his neck and collapse.’

Park Jin-hyung was well aware of this, yet his expression was resolute, as if his decision was already firm.

“You’re right that he’ll be furious. But the textile industry—a low-wage, labor-intensive sector—is now a declining industry. Unlike before, we’re fortunate if we can avoid losses, let alone make profits. It’s heading downhill.”

Park Jin-hyung laid bare his bitter feelings to his younger brother.

“We barely managed to breathe by closing domestic factories and shifting all production lines to China where labor costs are lower, but we’re only at the level of avoiding deficits. It feels like spitting on my own face, but I don’t see this situation changing significantly in the future.”

It was a regrettable reality, but it was undeniable that Daheung Textile—one of the two major pillars that formed the Daeheung Group alongside Midopa Department Store—was failing to fulfill its role and instead consuming money, becoming a heavy burden.

“You’ll keep dragging your feet and become a burden—there’s no question about that. But clinging to it just because it’s the group’s foundation? I don’t think that’s wise, even if we don’t acquire HomeMarket.”

Seok-won nodded in agreement.

“Honestly, I think the same way. Aside from the symbolism of being the original company, textiles have become a useless appendage.”
“That’s why I believe we should seize this opportunity to break free from the obsession that we must preserve the founding company, boldly liquidate the unprofitable textile business, and challenge ourselves with ventures that can propel the group to the next level.”
“And that venture is a large-scale discount retailer.”

Park Jin-hyung met my eyes as if confirming the answer.

“Exactly. Large-scale discount retailers are promising businesses in themselves, but if we leverage our existing Midopa Department Store and the recently acquired Korean Tongun, creating synergies between them, we could achieve tremendous multiplier effects. With that foundation, Daeheung Group would establish itself as a genuine distribution specialist conglomerate.”

Seok-won stroked his chin thoughtfully before responding.

“If we own two contrasting distribution channels—department stores and large-scale discount retailers—while also possessing a logistics company capable of storing massive quantities of goods and delivering them swiftly whenever needed, we’d achieve vertical integration in distribution itself.”

Park Jin-hyung’s eyes blazed with even greater intensity as Seok-won articulated his vision so precisely.

“That’s exactly the picture I’m painting.”

If we added e-commerce to this mix, we could evolve into a distribution empire that completely dominated the domestic market, much like Amazon.

‘He’s truly remarkable.’

Willing to face Father’s opposition, selling off the company he himself presides over to fundamentally transform the group’s structure—I couldn’t help but deeply admire my brother’s exceptional business acumen and bold execution.
I regarded him with renewed appreciation and asked.

“When did you start thinking like this?”

Park Jin-hyung moistened his throat with a drink and chuckled softly.

“I don’t have investment abilities as remarkable as yours, but I still can’t just inherit the group and tread water. At minimum, I need to push it forward at least one step.”
“If you execute your vision, it won’t be one step—it’ll be a leap up several stairs.”

Park Jin-hyung smiled across the rim of his glass.

“Hearing you say that gives me strength.”
“If you need it, I’ll help convince Father whenever you’re ready.”
“Thank you. But this is something I need to face alone. If I can’t properly persuade Father and secure his approval, even forcing the project forward would make success difficult.”

Park Jin-hyung displayed a strong determination to resolve matters on his own.
Watching him, Seok-won felt convinced that with such resolve, he could overcome any obstacle and achieve results.
Seok-won picked up his glass with a satisfied expression and spoke.

“You didn’t ask to meet just to discuss things casually. So, what can I help you with?”
“If competition with Tesco heats up, we might run short on acquisition funds, so I’d appreciate some financial ammunition when needed.”
“I’ll provide as much as you want, so don’t worry about that.”

At his unhesitating response, Park Jin-hyung spoke with a reassured expression.

“Thank you. I’ll make sure to pay the interest properly.”
“More importantly, think carefully about how you’ll convince Father. You know how terrifying he gets when he loses his temper, right?”

At the teasing jab, Park Jin-hyung hesitated for a moment before letting out a groan.

“Ugh… surely he won’t lay hands on a grown son?”
“But an ashtray could definitely fly your way.”

At the expression of absolute certainty, Park Jin-hyung’s face contorted.

“Or bring Jun-woo along. Surely he won’t lose his temper badly in front of his grandson.”
“Sigh. That might actually be necessary.”
“Hehehehe.”

For the first time in a while, Seok-won savored his older brother’s distress with genuine delight.

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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